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Reuters, July 2 – Tesla Inc (TSLA.O) reported record vehicle deliveries for the second quarter on Friday, which were in line with Wall Street expectations despite a chip and raw material shortfall. Strong deliveries of its Model 3 sedans and Model Y crossovers, the company’s two lower-priced versions, offset a decline in deliveries of its higher-end Model S and X variants, according to the figures. On Thursday, the company’s stock was slightly lower in premarket trade. Late last year, the company’s Shanghai factory began producing the Model Y in the major market where it already produces Model 3 sedans. Tesla’s sales in China, which account for about a third of total sales, are widely monitored as a measure of the company’s expansion in its second-largest market, where it has made significant investments. In May, Tesla sold 21,936 cars in China, rebounding from a sales drop in April but still falling short of March’s totals. find out more Tesla announced that overall deliveries of its higher-priced Model S and X automobiles decreased to 1,890 in the April-June period, down from a measly 2,020 in the previous quarter. The Model S Plaid, a high-performance variant of the Model S that starts at $129,990, was introduced in June with the goal of reigniting interest in the almost decade-old sedan. find out more On Tuesday, while the owner was driving, a Tesla Model S Plaid electric vehicle erupted into flames, just three days after it was delivered following its June premiere. In premarket trade, the electric carmaker’s stock was marginally down. find out more In the second quarter, total output increased by roughly 14% to 206,421 automobiles, compared to the first quarter. During the second quarter, Tesla delivered a total of 201,250 automobiles. According to Refinitiv data, analysts projected the electric car producer to deliver 200,258 units. Akanksha Rana in Bengaluru and Hyunjoo Jin in Berkeley, California contributed reporting; Sriraj Kalluvila and Saumyadeb Chakrabarty edited the piece. The Thomson Reuters Trust Principles are our standards./nRead More

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